How to stick to your pricing strategy – Service Business Academy

How to stick to your pricing strategy

Price iStock_000006139533SmallYour pricing strategy is Yours. It belongs to you and as such is at your total discretion.

For most business owners this means they tend to discount their services before they actually articulate the price to their potential client.

This is because they convince themselves that their proper price will be too high and get rejected by the prospect.

Have I just described you?

There’s a very good chance I have and it’s time to STOP that behaviour because all you are doing is making yourself work even harder to earn the same amount of revenue, and that’s not doing you any favours!

OK, so how do you change this behaviour?

Step 1: Write out your pricing strategy. This will make it seem far more concrete in your mind so you will be less likely to discount away from it.

Step 2: Be clear on the value you deliver. You have every right to charge a fair rate for the work you do. Don’t cheat yourself. Remind yourself of this before each prospect meeting.

Step 3: Be brave. It can be fine to have a negotiation over your price but at least let that negotiation happen with the client and not just in your head. Having said that I’m not advocating you do reduce your price if the prospect does try and negotiate. If you can articulate your value well you should be able to hold your price.

Now go forth and make money!

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Leave a Reply 1 comment

Mark Linton - 9th June 2015 Reply

Hi Claire you make a valued point hear and people always ask and people will always discount. But to strong about your prices is to be fair to yourself. Thanks for this. I will pass this on to my franchisees.

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